The global Levulinic Acid for Agriculture Market is expected to reach USD 61.2 Million by 2027, according to a new report by Reports and Data. Levulinic acid is a very versatile chemical that finds usage in several end-use industries attributed to its application as food feed additive, fertilizer, fungicide, plasticizer, coating, and antifreeze, among others. Agriculture is the primary user of levulinic acid. Growing demand for fertilizers for high crop yield is one of the significant factors influencing the market growth. Fertilizers allow farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Fertilizers are formulated to support the yield of certain plants by allowing the plants to absorb the essential macro and micronutrient easily. The worldwide demand for fertilizers has witnessed a decent pace of growth, with the demand being more than 138 million tons in the year 2000 and rose to around 210 million tons in the year 2019.
Some of the leading players in the global Levulinic Acid for Agriculture Market:
GF Biochemicals, Avantium NV, DuPont, Hebei Shijiazhuang Worldwide Furfural Furfuryl Alcohol Furan Resin Co. Ltd., Shijiazhuang Pharmaceutical Group Ouyi Pharmaceutical Co. Ltd., Biofine Technology LLC, Segetis, Shanghai Apple Flavor Fragrance Co. Ltd., Hebei Langfang Triple Well Chemicals Co. Ltd., Jiangsu Yancheng China Flavor Chemicals Co. Ltd., Sigmachem Corporation, and Anhui Herman Impex Co Ltd.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3472
Further key findings from the report suggest
- By technology, acid hydrolysis is likely to observe a growth rate of 8.8% in the forecast period. Levulinic acid is made by high-temperature acid hydrolysis of carbohydrates, including galactose, glucose, and sucrose, among others, as well as form biomeric material like wood and agricultural wastes. Levulinic is isolated either by solvent extraction or partial neutralization, filtration, and vacuum steam distillation.
- By distribution channel, offline held a larger Levulinic Acid for Agriculture Market size in 2019. The levulinic acid industry is very offline-intensive and witnesses transparency. The offline channel necessitates the requirement of substantial investment of time by the buyer and high selling costs, along with considerable knowledge of the Levulinic Acid for Agriculture Market on the seller side.
- By application, food additive held a substantial Levulinic Acid for Agriculture Market size in 2019. Levulinic acid as a food-grade preservative finds usage in slowing down microbial growth, regulating the pH levels of food products, and disinfecting the surface of fruits. Besides, levulinic acid is generally deployed to make maple, caramel, and several other syrupy flavors such as a flavor in berry-type compositions.
- North America held the levulinic acid largest market share in 2019 and is likely to grow at a rate of 8.9% in the forecast period. The market dominance of the region is owing to the high demand for the product from the cosmetics and pharmaceutical industry. Besides, high purchasing power parity in countries like the US and Canada is driving the growth of the Levulinic Acid for Agriculture Market in the region.
To know more about the report @ https://www.reportsanddata.com/report-detail/levulinic-acid-market
Levulinic Acid for Agriculture Market Segmentation:
Technology Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Acid Hydrolysis
- Biofine
Distribution Channel Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Online
- Offline
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Agriculture
- Pharmaceutical
- Food Additives
- Cosmetics
- Plasticizers
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/3472
Thank you for reading global Levulinic Acid for Agriculture Market report. We also offer customized research reports as per client requirement. Kindly contact us for to know more about the feature and our team will provide you a well-curated report in the stipulated time.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blog: https://www.reportsanddata.com/blogs
